The day following the Federal Reserve committee decision on interest rates and the rate of asset purchase programmes, Donald Kohn, senior fellow of the Brookings Institute and former vice-chairman of the board of governors of the Federal Reserve, joins Mark Sobel, US chairman of OMFIF, to discuss July’s decisions and the joint Brookings Institute and University of Chicago task force on financial stability report.

With consumer prices rising to 5.4% in June, will the Fed indicate a move towards tapering and scaling back the QE programme? With the average 2% target the Fed did leave room for inflation to overshoot, but for how long is the current inflation rate financially stable? Kohn and Sobel’s conversation covers the outlook for monetary policy and improving the resilience of the US financial system within this turbulent context.

Speaker: Donald Kohn, Vice-Chairman of the Board of Governors of the Federal Reserve System (2006-2010); External member of the Bank of England Financial Policy Committee (2013-2021); Senior Fellow, Brookings Institute

Recorded: 29/07/2021

This virtual discussion is part of the OMFIF Institute for Economic and Monetary Policy (EMP), OMFIF’s core stream of activities covering economic and monetary policy and the political economy. OMFIF is an independent think tank for central banking, economic policy and public investment, providing a neutral platform for best practice in worldwide public-private sector exchanges worldwide. For membership enquiries please contact or, or for further information please see the OMFIF website.

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